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Hall of Famer Murray charged with insider trading

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Hall of Fame first baseman Eddie Murray was charged with insider trading by the U.S. Securities and Exchange Commission, MLB.com reported Friday.

Murray, a Baltimore Orioles great who was elected to the Hall of Fame in 2003, is accused of making more than $230,000 in "illegal profits." He agreed to settle the charges.

The SEC accused Murray of insider trading on confidential information in anticipation Advanced Medical Optics Inc.'s acquisition.

Former teammate Doug DeCinces and three others were charged a year ago. Now, the SEC alleges that DeCinces tipped inside information to Murray and another colleague.

The group illegally made more than $1.7 million, according to the SEC. They are required to return more than $3.3 million in all to settle the charges.

The SEC is requiring the individuals to pay more than $3.3 million in return, an amount in which the group has agreed to redress. Murray's portion is nearly $360,000. DeCinces' share is $2.5 million.

"It is truly disappointing when role models, particularly those who have achieved so much in their professional careers, give in to the temptation of easy money," said Daniel M. Hawke, chief of the SEC enforcement division's market abuse unit.

Murray used the money to buy 17,000 shares of Advanced Medical Optics stock after DeCinces informed him of the confidential information. Murray then sold all of his shares after the public announcement.

Murray, 56, played for the Orioles for 13 seasons. He also played for the Los Angeles Dodgers, California Angels, New York Mets and Cleveland Indians during his 21-year career. He finished with 3,255 career hits, made eight All-Star teams and won three Gold Glove awards.
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